Estate Protection Plan | Personal and business | Business Owner Solutions
Most of us want the same thing, once our retirement is taken care of, we would like our children to benefit from what’s left behind. That could be family cottage. However without proper planning, often it could be a hefty tax bill. But you can prepare for taxes and protect what you value with the asset/ estate protection plan strategy.
Taxes can consume a substantial portion of your estate – depending on province of residence; registered assets can be taxed from 39%- 48%. Capital gains on assets such as cottage are taxed from 20% to 24 %.
– Strategy that uses universal life insurance policy to help pay your tax bill – protecting your estate and the assets that are so important to your family.
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Universal policy – a part of your annual payment will go towards the premium which will immediately and permanently increase your estate’s worth by providing a death benefit. That money can help offset your tax bill.
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It’s an investment – the other part of your payment is invested any way you choose, where it grows tax-deferred.
A) Your policy will grow to meet your tax responsibilities.
B) Your family receives the policy’s full value – TAX FREE.
C) Your family uses the insurance proceeds to pay the taxes on your estate.
This means your family’s assets can stay in the family. Call today to discuss your estate planning needs.
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